Former NOGASA Chairman Sentenced to 21 Years for ₦43.5 Million Fraud
Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja on Monday sentenced Fatuyi Philips, the former Chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), to 21 years imprisonment for defrauding his victims of ₦43.5 million.
Philips was convicted on a two-count charge of fraud and obtaining money under false pretenses, brought against him by the Economic and Financial Crimes Commission (EFCC). The charges stemmed from fraudulent activities conducted alongside his company, Oceanview Oil and Gas Nigeria Limited.
The EFCC initially arraigned Philips on April 7, 2022, where he pleaded not guilty. His trial commenced on April 30, 2022.
Delivering the judgment, Justice Dada ruled that the EFCC had successfully proven its case beyond reasonable doubt. Philips was sentenced to 14 years for the first count and 7 years for the second count, with the terms to run consecutively.
The court highlighted Philips’ failure to provide the Naira equivalent of the funds owed to the complainant and noted his lack of remorse. Justice Dada referenced $8,000 recovered from Philips during the investigation but emphasized that the amount did not constitute adequate restitution.
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“The first defendant never intended to provide the nominal complainant with the Naira equivalent of the Dollar,” Justice Dada stated.
The judge also ordered Philips to fully restitute ₦43.5 million to the complainant within 90 days of the judgment.
In addition, Oceanview Oil and Gas Nigeria Limited was fined ₦500,000 for the first count and ₦250,000 for the second. The company faces immediate winding up if the fines are not paid within 30 days.
This judgment underscores the court’s commitment to addressing fraudulent activities in the oil and gas sector.
